STMicroelectronics (NYSE:STM) Short Interest Update

STMicroelectronics (NYSE:STM) saw a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 7,320,000 shares, a decrease of 27.2% from the November 30th total of 10,050,000 shares. Based on an average daily volume of 5,090,000 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BNP Paribas assumed coverage on STMicroelectronics in a report on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price objective on the stock. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Monday, November 4th. Robert W. Baird reduced their price objective on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, STMicroelectronics has an average rating of “Moderate Buy” and a consensus target price of $36.26.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STM. Allspring Global Investments Holdings LLC grew its stake in shares of STMicroelectronics by 49.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,908 shares of the semiconductor producer’s stock worth $154,000 after purchasing an additional 1,293 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in STMicroelectronics by 144.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,243 shares of the semiconductor producer’s stock valued at $49,000 after buying an additional 734 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of STMicroelectronics by 11.6% during the 2nd quarter. Van ECK Associates Corp now owns 6,476,264 shares of the semiconductor producer’s stock valued at $254,388,000 after acquiring an additional 675,353 shares during the period. Rhumbline Advisers boosted its stake in shares of STMicroelectronics by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 19,718 shares of the semiconductor producer’s stock worth $775,000 after acquiring an additional 1,275 shares in the last quarter. Finally, Naviter Wealth LLC grew its holdings in shares of STMicroelectronics by 37.7% in the 2nd quarter. Naviter Wealth LLC now owns 11,112 shares of the semiconductor producer’s stock worth $437,000 after acquiring an additional 3,045 shares during the period. Hedge funds and other institutional investors own 5.05% of the company’s stock.

STMicroelectronics Stock Down 0.2 %

NYSE:STM traded down $0.05 during midday trading on Friday, hitting $25.48. 3,678,163 shares of the company were exchanged, compared to its average volume of 4,155,539. STMicroelectronics has a fifty-two week low of $23.95 and a fifty-two week high of $50.70. The company has a market capitalization of $23.02 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 3.20 and a beta of 1.53. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $26.16 and a 200 day simple moving average of $30.97.

STMicroelectronics (NYSE:STM) last announced its earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The business’s quarterly revenue was down 26.6% compared to the same quarter last year. As a group, equities analysts anticipate that STMicroelectronics will post 1.64 earnings per share for the current fiscal year.

STMicroelectronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.36 annualized dividend and a dividend yield of 1.41%. STMicroelectronics’s dividend payout ratio is currently 14.81%.

About STMicroelectronics

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.